Update – Powerful Power of Attorney

Elder financial abuse victim who gave power of attorney to daughter

It’s almost a year since I met with Daniel. He wrote me recently with a detailed update on the story about his elderly mother and scheming sister Amy.

Abuse of her power of attorney

Their late father’s estate was opened and slammed shut by the Probate Court because Amy claimed Dad had more debts than assets and no joint bank accounts. But Daniel says he’s got evidence to prove that Amy blatantly misused her power of attorney to channel money to herself, and their parents had joint checking accounts for many years.

Of  ‘sound mind’ when she signed her will? 

I was sorry to hear that Daniel and Amy’s mother passed away recently.

She’d signed a will. While it was obvious that she had dementia after signing. Daniel is working hard to track down the medical records to show she was afflicted much earlier and was not “of sound mind” when she signed.

Daniel wants to get the Court to remove Amy as Estate Administrator and void both parents’ wills. He thinks ultimately he and his sister will split the estates 50/50 (the only asset being Mom’s small house – you remember, the one without light bulbs).

Families are complicated

The siblings have a complicated relationship, to say the least. Amy threatens to expose some alleged (although unrelated) wrongdoings by Daniel if he continues to interfere. His recourse would be to accuse her of extortion, he told me. Yikes.

Daniel said his end goal is a legal victory that may help prevent financial abuse to other elderly people.

Do you know of families who are squabbling over inheritances? How can you prevent such battles?

Want more stories? Sign up for my newsletter – up, up, upper right corner!

Get a whole book of stories! Read the award-winning Gold Diggers and Deadbeat Dads: True Stories of Friends, Family, and Financial Ruin

Related posts:

Too Much Power in Your Power of Attorney?
You’re in a Coma: What are the Financial Consequences?
When You Die, You’re No Longer a Person
Your Rich Aunt Dies and Leaves You a Fortune – Now What?
The Gold Digger Who Would Murder for Money
Wife Insurance

Image © iStock.com/Kali Nine LLC

Comments

  1. Thanks for the update. I remember reading the previous posts.